Cielo is betting on e-commerce transactions on Black Friday: Valor

Cielo's investments in tech grew by 40% in comparison to 2019, driven by e-commerce

Cielo card machine. Photo: Rafastockbr/ Shutterstock

23.Nov.2020 09:27 BRT
UPDATED 12:36 BRT

E-commerce’s share of Cielo’s total transactions increased from 15% to 18% in one year;
Cielo’s president said that with Black Friday there will be an increase in this share.

The largest acquirer and payment processor in Brazil, Cielo, expects e-commerce transactions on Black Friday 2020 to surpass the movement seen in 2019, which was the best result for the segment so far.

To Valor Econômico, Paulo Caffarelli, Cielo’s president, said that the volume captured via e-commerce grew 120% in 12 months until October – excluding tourism and transportation segments, greatly affected by the coronavirus pandemic. But, even when including these sectors, there was an increase of 18%.

As a result, e-commerce’s share of Cielo’s total transactions increased from 15% to 18% in one year. Caffarelli said that with Black Friday, there will be an increase in this share and that it can surpass 20% compared to other transactions of Cielo.

Thus, the firm increased investments in technology by 40% in 2020, compared to 2019. The BRL 40 million invested served to improve infrastructure and increase the processing of transactions, reported Valor.